Guideline Value for PACHAIAMMAN KOIL STREET

Pachaiamman Koil Street guideline value

The current guideline value of Pachaiamman Koil Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Jelandianpettai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Pachaiamman Koil Street has changed

The guideline value for Pachaiamman Koil Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and currently stands at Rs 1,650 per sq.ft as per the 2024 revision.

From 2012 to 2017, there was a decrease of 33%, while the value rose by 49% from 2017 to 2023. The increase from 2023 to 2024 is 10%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, indicating that the guideline value for Pachaiamman Koil Street is below this median.

• Padmavathi Nagar Main Road: Rs 3,300 per sq.ft (2024)
• Pallavan Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Pallavan Nagar 2nd Street: Rs 1,870 per sq.ft (2024)
• Pallavan Nagar 3rd Street: Rs 1,870 per sq.ft (2024)
• Pallavan Nagar 4th Street: Rs 1,870 per sq.ft (2024)
• Pallavan Nagar 5th Street: Rs 1,870 per sq.ft (2024)

Stamp duty and registration fee for property in Pachaiamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost together to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pachaiamman Koil Street?

The Sub Registrar Office that covers Pachaiamman Koil Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Jelandianpettai

The guideline value is a critical factor during the registration of property transactions in Jelandianpettai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any legal complications. The registration process will require payment of applicable fees based on this guideline value.

Frequently asked questions

What is the current guideline value of Pachaiamman Koil Street?

The current guideline value of Pachaiamman Koil Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024, marking a 10% increase. It was Rs 1,005 per sq.ft in 2017 and Rs 1,500 per sq.ft in 2012.

What are the other streets in Jelandianpettai with their guideline values?

Other streets in Jelandianpettai include Padmavathi Nagar Main Road at Rs 3,300 per sq.ft, Pallavan Nagar 1st Street at Rs 2,200 per sq.ft, and several Pallavan Nagar streets at Rs 1,870 per sq.ft.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, and the registration fee is 2%. For a property valued at Rs 16,50,000, the total fees would amount to Rs 1,48,500.

Which office handles the registration for Pachaiamman Koil Street?

The registration for Pachaiamman Koil Street is handled by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.